Table 12 The moderating effect of industry competition.

From: Does corporate digitalization promote labor investment efficiency? Evidence from Chinese listed companies

 

High

Low

High

Low

(1)

(2)

(3)

(4)

Digital1

−0.0110*** (−5.10)

−0.0028 (−1.27)

  

Digital2

  

−0.0841*** (−4.88)

−0.0014 (−0.06)

Controls

Yes

Yes

Yes

Yes

Constant

0.4587*** (5.74)

0.3149*** (4.18)

0.4697*** (5.88)

0.3235*** (4.32)

Year

Yes

Yes

Yes

Yes

Industry

Yes

Yes

Yes

Yes

N

13,724

13,514

13,724

13,514

Adj_R2

0.1330

0.1361

0.1310

0.1372

  1. *, ** and *** denote significance at the 10%, 5% and 1% level, respectively. T-statistics (in parentheses) are based on standard errors clustered by firm.
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